Energy

Oil prices dipped on Monday as fears of a global recession caused concerns that fuel demand growth will slow, though supply worries ahead of the European Union embargo on Russian ...

Oil companies operating the Aphrodite gas field have approved a €192 million investment to start drilling, Israeli company NewMed said on Sunday. The amount will also cover other development costs for ...

Israeli energy minister Karine Elharrar will be in Cyprus on Monday 19 to address the pending dispute with Nicosia over the Yishai gas field, according to his Cypriot counterpart Natasa Pilides. ...

Fitch Ratings has affirmed Cyprus’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook saying the rating was underpinned by governance indicators and GDP per capita levels ...

Russian President Vladimir Putin said on Friday that 25% of Russian gas supplies to Turkey would be paid for in roubles, and that an agreement on this would come into force ...

Turkish contractor IC Ictas re-captured a deal to build a $20-billion nuclear power plant run by Russia’s Rosatom at Akkuyu in southern Turkey, two sources with information on the ...

The French government is now expected to launch its takeover of EDF by the end of September after a slight delay due to the complexity of clearing the offer price, ...

US economic data remains strong but a range of financial indicators point to a sharp slowdown over the next year that would dampen oil consumption and lead to lower prices. ...

Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand. ...

The German subsidiary of Russian oil giant Rosneft (ROSN.MM) was placed under trusteeship on Friday, giving Germany’s federal regulator control of the PCK refinery in Schwedt, a key ...

Oil fell on Thursday as expectations of weaker demand and a strong US dollar ahead of a potentially large interest rate increase outweighed supply concerns. The International Energy Agency said ...

By Clyde Russell If Europe is serious about ending all imports of Russian crude oil and refined fuels by early next year, the key to success lies in Asia, and ...

Oil prices inched lower on Wednesday on concerns of another US Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust ...

Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude ...

Oil prices fell on Monday with the global fuel demand outlook overshadowed by COVID-19 restrictions in China and the potential for further interest rate hikes in the United States and ...

It is time for Cyprus to move from words to action As we approach winter the global energy crisis is getting worse and worse. It has shifted from a situation ...

By Andreas Charalambous and Omiros Pissarides Saudi Arabia has traditionally based its policies on exploiting its natural wealth. Its government/administrative structure rests on the power of the Saud family ...

Energy Minister Natasa Pilides announced the upcoming visit of the Energy Commissioner Kadri Simson, in a statement after the conclusion of the extraordinary meeting of energy ministers in Brussels on ...

Oil prices rose on Friday as investors considered Russia’s threat to halt oil and gas exports to some buyers, but crude was set for a second weekly decline as ...

Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia ...

Britain’s new leader Liz Truss capped soaring consumer power bills for two years on Thursday in a package to limit the economic shock of war in Ukraine that could ...

Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes ...

A correction was issued on Wednesday to an earlier Reuters report quoting Italian gas giant Eni’s chief operating officer (COO) as saying that the EastMed pipeline would be fully ...

By Clyde Russell It’s tempting to dismiss the decision by the OPEC+ group to cut crude oil production by 100,000 barrels per day (bpd) in October as a statistical insignificance ...